According to statistics from Arkham, the US government is among the largest cryptocurrency holders, along with other nations like the UK and Germany.
Arkham, a platform for crypto intelligence that aims to deanonymize institutions on the blockchain, has unveiled a dashboard that shows which governments own the most cryptocurrency. In an April 12 announcement, Arkham stated that Germany, the United States, and the United Kingdom are “some of the largest countries” in terms of cryptocurrency holdings. People can view the current balance and transaction history of cryptocurrency held by governments by using the new Arkham tracking tool.
Based on the statistics, the U.S. government is the largest Bitcoin whale among the global states that Arkham tracks. As of this writing, it has as much as 212,847 BTC, which is valued at around $15 billion at current rates.
The U.S. government owns over $200 million worth of key stablecoins like USDC and Tether in addition to Bitcoin (BTC). Other cryptocurrencies held by the government include Ether (ETH), Based on Arkham’s data, the U.K. government is currently ranked second and has 61,245 BTC, or around $4.5 billion, in its possession. As of this writing, the German government possesses 49,858 BTC, or almost $3.5 billion.
El Salvador, which became the first nation to accept Bitcoin as legal money in September 2021, has a far smaller amount of Bitcoin than the other nations that Arkham monitors.
The data indicates that as of this writing, the Salvadoran government possesses 5,717 BTC, which is valued at $405 million.An crucial step toward more openness of cryptocurrency assets owned by whales, like as nation states, has been taken with the unveiling of Arkham’s dashboard ranking the top nations by amount of Bitcoin holdings. Meanwhile, the public hasn’t been made aware of the US government’s substantial Bitcoin holdings for a while.
The dashboard also indicates that throughout the previous few years, the United States has kept accumulating Bitcoin. The U.S. government has added at least 5,000 Bitcoin since the beginning of 2023, according to Arkham’s data and previous reports.
The United States government’s possession of Bitcoin is largely derived from seizures linked to the darkweb marketplace Silk Road, its hacker Jimmy Zhong, and the hackers of Bitfinex, a cryptocurrency exchange.